Amid the coronavirus pandemic, experts predict Africa’s economy will shrink for the first time in over 25 years. For the continent’s oil- and gas-rich countries the impact of the pandemic coincided with and exacerbated a global drop in oil prices.
La République Démocratique du Congo (RDC) a fait des progrès significatifs en matière de divulgation des contrats extractifs. On aurait donc pensé qu’elle serait en bonne voie pour devenir l’un des pays modèles en Afrique subsaharienne en la matière.
The Agyapa gold deal might be a creative solution to Ghana’s current economic constraints, but it is also fraught with risks. Further consideration and public consultation might create the opportunity to strengthen the deal for the benefit of Ghana.
The voluntary nature of new EITI guidelines means that comprehensive disclosure of detailed information on purchases by traders is unlikely in the near term. Authorities in jurisdictions where commodity traders are based should move to legally require the disclosure of these sizeable payments.
Investors are paying close attention to the financial consequences of the pandemic on suppliers, but more on the companies themselves than on resource-rich countries. Supplier governance influences the ability of nations and communities to benefit from oil, gas and mining projects, and is central to securing a “social license to operate.”